General Ledger Controls

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This quiz is intended for people who have attended the Sybiz Vision General Ledger Controls Masterclass

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1. If a General Ledger account is used for automatic postings, which is the best way to set the ability to post to the account

1 point

a. Allow all postings

b. Allow Automatic Postings only

c. Allow Automatic Postings and Journals only

d. Only allow postings to occur based on modules licensed

2. What is the name of the most important control report in Sybiz Vision

1 point

a. Trial Balance

b. Profit and Loss

c. Ledger Reconciliation report

d. Balance Sheet

3. And, what is the best description of the context of that report

1 point

a. It compares all subsidiary ledger balances to the corresponding general ledger control accounts for the life of the database

b. It compares all subsidiary ledger balances to the corresponding general ledger control accounts for the date range the report is run

c. It shows the balances of the general ledger control accounts, including all accounts that may have been control accounts previously

d. It helps to ensure all posting accounts have been configured

4. And, what is NOT a reason that report could balance and the individual ledger reports could be out of balance with the trial balance (or control accounts)

1 point

a. Automatic posting accounts have not been configured

b. Automatic posting accounts have been changed and balances have not been journaled

c. Transactions were offset with the offset date pre-dating one of the transactions being offset

d. Journals being posted directly to a control account

5. Which of the following is an example of how the General Ledger control account can get out of step with the balance of the subsidiary ledger

1 point

a. Manual journal posted to a control account

b. Failure to create a new financial year

c. Trial Balance report has not been included in the report set

d. None of the above

6. Which of the following options are available to set as part of a password policy control

1 point

a. Upper case

b. Numerals

c. Symbols

d. All of the above

7. If a user is assigned multiple roles and one role provides a permission that the other role does not, what is the outcome

1 point

a. The lesser permission always wins, providing maximum restriction where conflicts exist

b. Any permission in any role will flow through to that user such that the user will have the sum of all permissions granted via their roles

c. Conflicting permissions are not allowed, meaning that roles will not be able to be assigned until conflicts are resolved

d. Conflicting permissions result in all permissions being assigned as if the user was an administrator, effectively alerting them to an issue

8. When creating a new role, what is the best approach

1 point

a. Enable everything and take away as needed

b. Enable nothing and add as needed

c. Enable what is required and review as needs arise, adding new permissions or separate roles as needed

d. Only use the in-built Administrator and User roles

9. If changing from periodic to accrual postings, what report is a handy reference during the transition

1 point

a. Depreciation Schedule

b. Posting Details

c. Comparative Profit and Loss

d. General Ledger Defaults

10. What is the most accurate way to describe how Stores influence automatic postings

1 point

a. They don’t

b. Override location postings for sales and cost of sales

c. Fixed Assets postings are further categorised into their storage locations

d. All of the above

11. What is the maximum number of financial years that can be posted to, if not restricted by role

1 point

a. 1

b. 2

c. 3

d. 5

12. In addition to the change log, what is the other tool available to check who and when things may have occurred

1 point

a. Database integrity report

b. Administrative Dashboard

c. Application Log

d. Logged in Users

13. A recent addition to the Application Log has been

1 point

a. Password redaction

b. Failed log in attempts

c. Successful log ins

d. Successful log outs

14. The (A) key difference between the Application Log and the Change Log is

1 point

a. Detail as to specific changes

b. User responsible is only listed in Change Log

c. Change Log details date and time

d. There is no difference

15. A user MUST change their password when

1 point

a. A security breach has been detected

b. When forced by the administrator or by policy

c. Once per year

d. After 5 failed login attempts

16. Which of the following is NOT an option in General Ledger posting defaults

1 point

a. Undefined

b. Regular

c. Accrual

d. Periodic

17. If running a Profit and Loss report for a date range exceeding the financial year, which of the following statements is most accurate with respect to the end of financial year journals

1 point

a. There are no physical journals, just virtual so the true profit for the time span is shown

b. An option to exclude EOFY clearing journals is available

c. It’s not relevant as the Profit and Loss becomes an ‘as at’ report if not run for a full financial year

d. Multiple reports must be run and combined in a tool such as Microsoft Excel

18. Which of the following best describes the relationship between roles and financial periods

1 point

a. Financial periods are independent of roles

b. Roles are independent of financial periods

c. The ability to post in financial periods can be controlled on a role by role basis

d. The ability to post in financial periods must be controlled on a role by role basis

19. Which of the following mechanisms is the best way to be notified of something happening within the system when it happens

1 point

a. Refer to the change log

b. Refer to the application log

c. Refer to a customisation

d. Be notified via email or SMS generated from a breakpoint

20. If your Sybiz Vision license includes 5 users, how many user accounts can you set up in the system

1 point

a. 5

b. 10 (maximum of 2 per license)

c. Practically unlimited

d. 25 (number of user licenses squared)

21. Any further questions that spring to mind? There are no wrong answers and no silly questions (we may refer you to your BP or external advisors)

Send me a copy of my responses.

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